Thesis Abstract

Microfinance has been recognized as a tool for entrepreneurship development in various countries, including Nigeria. This study aims to investigate the impact of microfinance on entrepreneurship development in Nigeria. The research will explore how access to microfinance services influences the establishment and growth of entrepreneurial ventures in the country. The study will adopt a mixed-methods approach, combining both quantitative and qualitative data collection techniques. A survey questionnaire will be administered to a sample of entrepreneurs who have accessed microfinance services in Nigeria. Additionally, in-depth interviews will be conducted with key stakeholders in the microfinance sector, including microfinance institutions, government agencies, and business development experts. The quantitative analysis will involve statistical techniques to examine the relationship between microfinance and entrepreneurship development. Variables such as loan size, interest rates, repayment terms, and business performance indicators will be analyzed to determine the impact of microfinance on the growth of entrepreneurial ventures in Nigeria. The qualitative analysis will provide insights into the experiences and perceptions of entrepreneurs and key stakeholders regarding the role of microfinance in entrepreneurship development. Themes such as access to finance, business support services, and regulatory environment will be explored to understand the challenges and opportunities faced by entrepreneurs in Nigeria. The findings of this research will contribute to the existing literature on microfinance and entrepreneurship development by providing empirical evidence from the Nigerian context. The results will be valuable for policymakers, microfinance institutions, and entrepreneurs seeking to enhance the impact of microfinance on entrepreneurship in the country. Overall, this study will shed light on the potential of microfinance as a catalyst for entrepreneurship development in Nigeria. By examining the factors that influence the effectiveness of microfinance services, the research aims to provide practical recommendations for improving the support provided to entrepreneurs through microfinance. Ultimately, the findings of this study can inform strategies to promote sustainable entrepreneurship and economic growth in Nigeria.

Thesis Overview

INTRODUCTION

1.1      BACKGROUND OF THE STUDY

It  is  an  undisputable  fact  that  the  contribution  of

microfinance to entrepreneurship activities is increasing being recognized as a primary engine of economic growth. (The Economist, May 18th 1996). By combining existing resources with innovative ideas, entrepreneurs add value through the commercialization of new products, the creation of new jobs and the building of new firms. The Global Entrepreneurship Monitor (GEM) indicates that nations with higher levels of entrepreneurial activity enjoy strong economic growth. In short, entrepreneurs are the link between new ideas and economic development. This is proper using the experience of the industrialized countries of North America and West Europe. Legislative actions has been taken by countries like United States of America, the Netherlands and Japan to see to the fact that entrepreneurial activities